South Korea and Chile launched negotiations in Seoul on Wednesday to upgrade their free trade agreement.

The bilateral trade deal went into effect in 2004 as South Korea's first FTA and the two nations agreed in November 2016 to amend terms of the trade pact to reflect the latest market trend and improve market access in emerging sectors.

The first formal talks since then will address a series of issues including commodity, intellectual rights, labor, environment and gender equality.

The Ministry of Trade, Industry and Energy said that during the three-day negotiations, Seoul will push to lower barriers for Korean home appliances, such as washing machines and refrigerators, and add terms to protect intellectual property rights of entertainment content.